Gas Charges On Arbitrum Skyrocketed, Bridge To Layer-2 Ran Out Of Liquidity
In Arbitrum’s Odyssey series, a large number of assets are being drawn to this Layer-2 ecosystem. However, accompanied by this vibrancy are the structural limitations, the most noticeable of which is the transaction fee (gas fee).
According to some records during the day, sometimes the transaction fee on this layer-2 is higher than on Layer-1 (i.e., Ethereum’s mainnet).
The Arbitrum trading fee has been temporarily lowered and returned to the $1-2 mark for each action.
However, the move may be short-term, as Arbitrum is implementing the Odyssey program – which includes a series of weekly activities in which users will need to perform specific tasks to receive NFT rewards from Arbitrum.
Arbitrum also recorded a trading peak on the day of the record, This milestone could continue to be broken as the Odyssey incentive program is moving into its second week.
Parallel to the fact that demand spikes, on the infrastructure side provided, it is still experiencing some bottlenecks in the Batch (packaging) transaction, which makes the transaction processing capability less optimal.
In addition to trading fee stories, users encounter liquidity-related stories when transferring ETH from other ecosystems to Arbitrum.
Hop Protocol – Odyssey’s first-week winning solution – experienced liquidity problems, causing many ETH transfers from other chains to be delayed.
On the project side, Hop Protocol said that the processing of outstanding transactions and liquidity expectations in the coming time would soon catch up with the volume of transactions and the need to transfer ETH to Arbitrum when the Bridge Week has just ended.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Gas Charges On Arbitrum Skyrocketed, Bridge To Layer-2 Ran Out Of Liquidity
In Arbitrum’s Odyssey series, a large number of assets are being drawn to this Layer-2 ecosystem. However, accompanied by this vibrancy are the structural limitations, the most noticeable of which is the transaction fee (gas fee).
According to some records during the day, sometimes the transaction fee on this layer-2 is higher than on Layer-1 (i.e., Ethereum’s mainnet).
The Arbitrum trading fee has been temporarily lowered and returned to the $1-2 mark for each action.
However, the move may be short-term, as Arbitrum is implementing the Odyssey program – which includes a series of weekly activities in which users will need to perform specific tasks to receive NFT rewards from Arbitrum.
Arbitrum also recorded a trading peak on the day of the record, This milestone could continue to be broken as the Odyssey incentive program is moving into its second week.
Parallel to the fact that demand spikes, on the infrastructure side provided, it is still experiencing some bottlenecks in the Batch (packaging) transaction, which makes the transaction processing capability less optimal.
In addition to trading fee stories, users encounter liquidity-related stories when transferring ETH from other ecosystems to Arbitrum.
Hop Protocol – Odyssey’s first-week winning solution – experienced liquidity problems, causing many ETH transfers from other chains to be delayed.
On the project side, Hop Protocol said that the processing of outstanding transactions and liquidity expectations in the coming time would soon catch up with the volume of transactions and the need to transfer ETH to Arbitrum when the Bridge Week has just ended.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
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